Consider the submission to the Wetston Consultation process by the Competition Bureau. The Bureau states the following:

The efficiencies exception permits mergers that are harmful to Canadians To understand the efficiencies exception, it is important to focus on the circumstances where it is engaged. The exception applies only after the Tribunal has found that a merger will likely cause Canadian consumers and businesses to face higher prices, fewer choices, decreased levels of innovation, or other anti-competitive effects. Following this finding that a merger will have harmful effects, the efficiencies exception requires the Tribunal to compare these anti-competitive effects with the private benefits that the merging parties can amass as a result of the transaction.

Regardless of the size or scope of the private benefits brought about by the merger, a wide swath of Canadian consumers and businesses are harmed in every case where the efficiencies exception applies. These consumers and businesses now bear the burden of higher prices, fewer choices, and less innovation, with no requirement that they will receive any actual benefit from the merger. The real force and effect of the efficiency exception has been to permit harmful mergers in the Canadian economy. The exception has excusedand, if left unchecked, will continue to excusemergers that are harmful to consumers, businesses, and the competitive process. The private benefits to merging parties granted by the efficiencies exception are financed by the real costs incurred by Canadians. For this reason, the efficiencies exception should not stand.

(c) Evaluate the basis of the Bureau's advocacy for elimination of the efficiency exception, in particular " The private benefits to merging parties granted by the efficiencies exception are financed by the real costs incurred by Canadians."

(d) What does the decision by the government to delegate assessment and approval of mergers to an independent tribunal like the Competition Tribunal imply about the Bureau's concern?